Craig Wright: Satoshi Nakamoto Plagiarized My Bitcoin Paper

Craig S Wright, an Australian computer scientist who claims that he created billions of dollars worth of payment protocol Bitcoin, accused Satoshi Nakamoto of plagiarizing his paper. The Bitcoin SV founder stressed that he is the original author of Bitcoin’s whitepaper during CC Forum in London. According to eyewitness Toni Vays, a famous cryptocurrency trader, who…

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Calibra Head: Libra ‘Absolutely Not’ in Jeopardy Without PayPal, Visa

Recent departures including Paypal and Visa does not mean Facebook’s Libra currency project is over, reassured Calibra head, David Marcus.

Head of Facebook’s Calibra claimed that the recent withdrawal of the seven firms from the Libra Association has no impact on the project.

Dropouts will still be able to work with Libra

In an interview with Yahoo Finance on Oct. 15, Calibra’s David Marcus argued that Facebook’s cryptocurrency project is “absolutely not” in jeopardy after PayPal, Visa, Mastercard, Stripe, eBay, Mercado Pago and Booking quit the Libra Association.

Marcus emphasized that companies outside the formal association will still be able to offer services on the platform:

“One thing that is not well understood is that you don’t need to be a member of the Libra Association to build services and products. So if Visa and Mastercard want to issue cards for Libra wallet at a later stage, they can still do it without being members of the association.”

The Calibra executive further expressed his respect to the seven companies’ decision to leave the project and thanked the firms for having the courage to “look at potentially disrupting themselves.” 

Marcus said that he understands that the firms have a responsibility to their shareholders, which “were under a lot of pressure.”

The withdrawal has nothing to do with regulatory concerns

According to Marcus, the departure of the seven firms has nothing to do with regulatory matters as Libra project is “fleshing out all of the regulatory requirements and oversight required for this to operate.” 

However, the executive admitted that the process around Libra will continue to be difficult and will become even harder before it gets easier, while the association members should have the passion, energy and fortitude to press forward.

The news comes after Libra was formally founded in Geneva, Switzerland, on Oct. 14, with the 21 remaining initial members, including Uber, Lyft, Coinbase, Spotify and Vodafone.

As reported, Libra hopes to attract 100 members before its public launch slated for the first half of 2020. 

Meanwhile, U.S. Rep. Warren Davidson said recently that Facebook adding Bitcoin (BTC) to Calibra would be a “way better idea” than creating a new currency.

US Congressman: Facebook Should Add Bitcoin, Not Create Libra

United States Rep. Warren Davidson (R) has said that Facebook adding Bitcoin to its Calibra wallet would be a “way better idea” than creating its new currency, Libra.

United States Rep. Warren Davidson (R) has said that Facebook adding Bitcoin (BTC) to its Calibra wallet would be a “way better idea” than creating its new currency, Libra.

In an interview for the Noded Bitcoin podcast on Oct. 11, the Congressman said that “part of the beauty” of Facebook’s unveiling its proposed Libra stablecoin is that it crystallized all of the problems that already exist on the social media platform today.

“Do we want filtered transactions or freedom?”

Davidson argued that the Congressional hearings devoted to Libra this July had compounded the intense pressure Facebook is already under, noting that “a lot of the questions weren’t even about Libra.” 

He said that the social media titan’s bid to launch a proprietary cryptocurrency had served to intensify focus on many of the platform’s existing operations, arguing that:

”Facebook already filters content — some people say with bias, some people say it’s great, they’re protecting my safe space […] So do we want filtered speech or free speech? Do we want filtered transactions or freedom?”

Podcast host Pierre Rochard argued that the Congressional hearings had nonetheless been an ideal vehicle through which observers — many of them hailing from the traditional financial sector — were able to come to a better understanding of Bitcoin through coming to realize the problems inherent to a centralized and private initiative such as Libra.

Davidson agreed that this had been the effect on many he had spoken to, yet also noted that for those convinced of the need for central authorities as stewards of global finance, the hearings only cemented their antagonism toward distributed ledgers and decentralized cryptocurrencies, and intensified their desire to crack down on the space more broadly.

Libra — as a means of payment — could undoubtedly destabilize the status quo, Davidson said, pointing to the fluidity with which monolithic tech giants such as Facebook and Google almost begin to acquire quasi-sovereign properties, challenging governments’ authority.

Libra focuses attention on Facebook’s prior failings

During the congressional hearings devoted to Libra this July, U.S. Rep. Maxine Waters — chair of the United States House of Representatives’ Financial Services Committee — made the explicit connection between concerns raised during earlier Facebook controversies and the platform’s bid to launch a stablecoin. 

Waters had already requested that Facebook halt work on Libra in the middle of June, soon after the project’s unveiling.

She contended that the tech giant had a “demonstrated pattern of failing to keep consumer data private” and that it had “allowed malicious Russian state actors to purchase and target ads” to — purportedly — influence the 2016 U.S. presidential elections.

U.S. lawmakers have also pointedly asked Facebook how they could be expected to trust a firm whose collection, storage and misuse of customer data had landed it a $5 billion penalty.

Analyst Eyes 10% Bitcoin Price Expansion as Volatility Creeps Closer

If you’ve followed the price of Bitcoin (BTC) at all over the past few weeks, you know there is a large lack of volatility. In fact, for the past 20-odd days, the leading cryptocurrency has been stuck in an effectively 8% range — something that doesn’t happen all too often. Related Reading: Bitcoin Price Continues…

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UK Forex Giant Launches New Bitcoin Service as Brexit Fears Grow

UK-based FXCM Group has introduced a new bitcoin trading service right around the time when investors weigh the possibility of a hard Brexit. The forex brokerage giant announced in a press release published on Monday that it is launching CryptoMajor. It is a basket that contains five popular cryptocurrencies – Bitcoin, Ether, XRP, Bitcoin Cash,…

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N. Korean Hackers’ New MacOS Malware Hides Behind Fake Crypto Firm

The notorious North Korean hackers known as the Lazarus APT Group have created another malware targeting Apple Macs and cryptocurrency users.

The notorious North Korean hackers known as the Lazarus APT Group have created another malware targeting Apple Macs that masquerades behind a fake cryptocurrency firm.

Apple Mac security specialist and principal security researcher at Jamf Patrick Wardle published a blog post on Oct. 12 outlining the nature of the malware, revealed by MalwareHunterTeam (MHT) researchers the previous day.

Closely related to earlier macOS crypto-malware

MHT and Wardle have warned that at the time of their warning, the malware was undetected by any engines on VirusTotal and that the sample appears to be closely related to a strain of Mac malware created by the Lazarus Group and identified by Kaspersky Labs back in summer 2018.

Like the previous strain, the hackers have set up a fake cryptocurrency firm — this time dubbed “JMT Trading” — through which to perpetrate their attack. Having written an open-source cryptocurrency trading app, they uploaded its code on GitHub, concealing the malware within it.

Wardle analyzed the installation process for the app, identifying the suspicious package and launch daemon concealed within it and analyzing the malicious functionality of the hackers’ backdoor script. 

While the backdoor affords a remote attacker complete command and control over infected macOS systems, Wardle notes that open-source security tools and manual detection processes by alerted users should have no issue detecting the malware. However, he reiterated his warning that VirusTotal engines were not picking it up at the time of writing.

He also considers that the most likely targets of the malware are crypto exchange employees, rather than everyday retail investors.

Cyber villains

As reported, the allegedly North Korean state-sponsored Lazarus Group has achieved infamy for its malign activities. As of fall 2018, the group was estimated to have stolen a staggering $571 million in cryptocurrencies since early 2017 and was accused of involvement in the industry record-breaking $532 million NEM hack of Japanese exchange Coincheck.

This September, Anne Neuberger — director of the United States’ National Security Agency (NSA) Cybersecurity Directorate — singled out North Korea as being particularly creative in its cyber warfare strategy, pointing to the rogue state’s alleged use of cryptocurrency to compile funds for President Kim Jong-Un’s regime.

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